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Highest Open / Lowest Open Trade

  • #561
  • May 18, 2016 12:06pm May 18, 2016 12:06pm
Quoting baldmonk
hi, this approach really intrigues me. Thanks for sharing that. I am a complete newbie at this stage, started with play money two months ago. I saw you are based out of the US. I am just wondering when you usually use the approach during the day, or rather how many H1 bars you would wait to show up on the chart.
The only thing to wait for is the setup.
Normal trading hours are the first 4 of the NY session.
This method can be used during all sessions.
Trade the most volatile pairs for the session.
Asian session implies trading JPY, AUD and NZD pairs.
Asian session usually has breakouts rather than reversals.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #562
  • May 18, 2016 12:21pm May 18, 2016 12:21pm
TooSlow,

I have a question regarding this situation below: This is my current EURJPY short from a few hours ago. Yellow is the short trade, red solid is stop loss. I took this trade specifically for the far stop loss, to practice. In the current situation there was a new open high but the stop loss was never hit (or a BE move in place). Does the system allow for a second short trade at the same time? Fifo rules in the US have to be observed of course. Different position size would take care of that.
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  • #563
  • May 18, 2016 12:27pm May 18, 2016 12:27pm
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Possibility
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #564
  • May 18, 2016 12:44pm May 18, 2016 12:44pm
Quoting Habo
TooSlow, I have a question regarding this situation below: This is my current EURJPY short from a few hours ago. Yellow is the short trade, red solid is stop loss. I took this trade specifically for the far stop loss, to practice. In the current situation there was a new open high but the stop loss was never hit (or a BE move in place). Does the system allow for a second short trade at the same time? Fifo rules in the US have to be observed of course. Different position size would take care of that. {image}
Are you asking for permission to add to a losing trade?
Forget about your first entry.
Is the setup present?
Would you be asking these questions if your trade was over?

Each trade is unique.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #565
  • May 18, 2016 12:45pm May 18, 2016 12:45pm
What pairs has everybody traded with today? Losses to wins? I took a stab at gbp/usd got stopped. I am 0-1 and -$. I am jumping the gun on these trades. Does anyone use a hotkey or something to move to breakeven +1 quickly, or are you all manually moving.
  • #566
  • May 18, 2016 12:48pm May 18, 2016 12:48pm
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Who got this one?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #567
  • May 18, 2016 12:49pm May 18, 2016 12:49pm
Quoting wannalearn12
What pairs has everybody traded with today? Losses to wins? I took a stab at gbp/usd got stopped. I am 0-1 and -$. I am jumping the gun on these trades. Does anyone use a hotkey or something to move to breakeven +1 quickly, or are you all manually moving.
Have your modify window open with BE+1 loaded.
One click away from moving the stop to BE+1.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #568
  • May 18, 2016 12:51pm May 18, 2016 12:51pm
Looking to be a setup? Thoughts?
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  • #569
  • May 18, 2016 12:52pm May 18, 2016 12:52pm
Quoting TooSlow
Are you asking for permission to add to a losing trade?
You wanted to see some losses anyway.

To answer the other questions, no I am usually not a multi position trader so I will not do it now either.
  • #570
  • May 18, 2016 12:55pm May 18, 2016 12:55pm
Quoting TooSlow
{image} Who got this one?

AUDUSD looks similar. I did not get these though. Can't catch them all....but maybe next time.
  • #571
  • May 18, 2016 12:59pm May 18, 2016 12:59pm
Stopped out on UC

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  • #572
  • May 18, 2016 1:07pm May 18, 2016 1:07pm
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #573
  • May 18, 2016 1:07pm May 18, 2016 1:07pm
just grabbed mad pips! entries on red line.
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  • #574
  • May 18, 2016 1:09pm May 18, 2016 1:09pm
Attached Image (click to enlarge)
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #575
  • May 18, 2016 1:09pm May 18, 2016 1:09pm
Quoting wannalearn12
just grabbed mad pips! entries on red line. {image}
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #576
  • May 18, 2016 1:12pm May 18, 2016 1:12pm
nzd/usd aud/usd on watch? along with what has been posted?
  • #577
  • May 18, 2016 1:17pm May 18, 2016 1:17pm
Here are my GJ & GU losses. Will transfer to MT4 chart when I have time. I use Onada's proprietary platform to trade on because of the ability to set infinite trade size, based on what % you are willing to risk. Terrible, however, for chart analysis. 1st chart is GU. Triangles are entries. Dots are executed stops.
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  • #578
  • May 18, 2016 1:29pm May 18, 2016 1:29pm
Too Slow, after you ride the massive pipe wave and hop off, do you wait for re-entry on the reversal or move on to setups that are better in the making?
  • #579
  • May 18, 2016 2:24pm May 18, 2016 2:24pm
Quoting wannalearn12
Too Slow, after you ride the massive pipe wave and hop off, do you wait for re-entry on the reversal or move on to setups that are better in the making?
Stick to the setup.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #580
  • May 18, 2016 6:41pm May 18, 2016 6:41pm
Possible setup, any thoughts?? Please let me know.
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